Scottish Life to change underlying investment of matrix fund

Scottish Life is to change the underlying investment held within its Global Blend Core Plus Pension Fund.

The matrix fund, a group of externally managed equity funds categorised by sector and by risk relative to a benchmark, will see its underlying investment switched to the Rathbone Global Alpha Fund from 19 August 2013. This will be managed by Rathbones’ multi-asset team.

As a result, the fund will be renamed the Scottish Life Global Blend Core Plus (Rathbone Global Alpha) Pension Fund. 

Lorna Blyth, investment marketing manager at Scottish Life (pictured), said: “We take a proactive role in the governance of our investment fund range, with regular reviews of the investment objectives, performance and benchmarks; and we make changes when necessary.  This change was decided following a quarterly review by the Investment Advisory Committee.

“The process of replacing an underlying fund involves a rigorous selection process and has been designed to be a seamless transition.

“We communicate the changes to advisers and policyholders well in advance, and they can be confident that we continually monitor the fund range and make adjustments when we feel they are necessary.”

David Coombs, head of multi-asset investments at Rathbones, added: “We believe a genuine synergy exists between the investment philosophies of Scottish Life and Rathbones, which place the investor at the core of the proposition.”